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CORPORATE GOVERNANCE

CORPORATE GOVERNANCE. Corporate Governance. Concept :

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CORPORATE GOVERNANCE

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  1. CORPORATE GOVERNANCE

  2. Corporate Governance • Concept: - Nobel Laurette Milton Friedman has stated that “ Corporate governance is the conduct of business in accordance with shareholders desire to make as much money as possible while conforming to the basic rules of the society, embodied in law and customs” - Narayana Murthy “ It is about ethical conduct in business. It is beyond realms of law. It stems from the mindset of management and cannot be regulated by legislation” - CG is a framework to facilitate shareholders and stake holders interest.

  3. Corporate Governance • CG concept came into existence in India through Kumara Mangalam Birla in 2000. • The first step was introduction of Clause 49 of Standard Listing agreement. • The salient feature of the recommendations were: - 50% independent Directors on the Board. - Setting up of Audit committee - Board meetings to be held 4 times during a year - bring in Transparency and Disclosure in all the activities of the company. - Stipulate qualification for Directors - Minimum attendance by Directors.

  4. Corporate Governance • The main objective of the CG is to protect the interest of the stake holders, leading to a healthy growth of corporate culture, inter alia leading to healthy growth of the nation.

  5. QUOTES • Golden rule by Alexander the Great “ I don’t believe in taking right decisions, but I take decisions and make them right” • Argument is bad, but discussion is good, because: - Argument is to find out who is right & - Discussion is to find out what is right

  6. SERENITY PRAYER God grant me the serenity to accept the things which I cannot change, courage to change the things which I can and wisdom to know the difference

  7. THANK YOU AND BEST OF LUCK TO EACH ONE OF YOU IN ALL YOUR ENDEAVORS BYE: K L S N RAO

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